Retaliatory tariffs in the trade war between China and the US

51Due教员组今天给各位留学生带来一篇关于奢侈品文章分析essay代写范文，Barrie（2020）主要讨论中美贸易战中报复性关税对双边经济的影响。由于贸易战的影响，中美两国相应产品的进出口关税不断提高，导致两国企业采购的材料价格不断上涨，甚至波及世界其他国家。本文将参照Barrie（2020）分析中美贸易战对奢侈品产业的间接影响。

Barrie (2020) mainly discusses the impact of retaliatory tariffs in Sino US trade war on bilateral economies. As a result of the trade war, the import and export tariffs of the corresponding products between China and the United States continue to increase, which leads to the rising prices of the materials purchased by the enterprises of the two countries, and even affects other countries around the world. This paper will analyze the indirect impact of Sino US trade war on luxury industry by referring to Barrie (2020).

The Sino US trade war will reduce the luxury overseas consumption of Chinese tourists. Although China's luxury consumption is increasing year by year, a large part of China's luxury consumers' luxury consumption comes from overseas consumption, which is mainly due to the high price of China domestic luxury goods and the large gap between the price of China domestic and overseas luxury goods, so some luxury consumers choose to purchase luxury goods overseas in the way of tourism. According to the data of the world tourism organization, China has become the country with the largest international tourism consumption in the world since 2012(He, Zha & Loo, 2020). Since then, the proportion of China in the global international tourism consumption has been rising. It is no exaggeration to say that any luxury goods enterprise will not give up Chinese tourists, and they will certainly attach great importance to Chinese tourists, after all, it is related to their performance and their survival. However, with the outbreak of the trade war, the bilateral relations between China and the United States are deteriorating, which has seriously affected the number of Chinese tourists to the United States. According to the National Tourism Administration of the United States, in 2018, the number of Chinese tourists to the United States reached 2.9 million, down 5.7% year on year, the first time since the number of Chinese tourists to the United States declined in 2003（Hosain & Hossain, 2019)）. In today's environment, if the United States lose Chinese tourists, the impact on the luxury industry in the United States is very big.

Sino US trade frictions will affect the valuation of luxury goods industry. First, China and the United States are both very large economies, once the trade war is triggered in an all-round way, not only will the economic environment of China and the United States face great risks and uncertainties, but the global economy will also decline to a certain extent, which will lead to a decline in investors' confidence in luxury industry investment. Secondly, China has many neighboring countries and is in the developing stage. It is the import and export transfer station of goods in many countries and regions. Therefore,the trade war will affect the countries in this supply chain, such as South Korea and Japan. Finally, intellectual property is an important right issue in the history of human development. Its good implementation and application can comprehensively promote the development of science and technology industry in human society. In the process of actual development, China's industry is in the link of supply chain. The implementation of trade war by the United States against China will also damage its own interests to a large extent; If the global economy is affected, consumers' demand for luxury industry will inevitably be affected, resulting in investors' underestimate of luxury industry. According to analysts at UBS in the global economy, the luxury industry could face a devaluation of up to 30% if the trade war is fully launched.

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